I have the 360 version, not the PS3, but I can tell you that, if you have the PC to run it, the Dolphin version is the best graphically, no question. This HD version is a great resolution bump, and looks oh-so-much better than the older ones, but it's nothing more than that. On Dolphin, you can bump the resolution further, add filtering and AA, customize your controls, and even use a Wii remote if you're into that. But with that comes all the baggage that emulation brings: tweaking the configuration, finding the right build, and so on. RE4 still has a couple of sound bugs in Dolphin; the music tends to stop and never come back until you load a new area, and at random times, it does this loud, incessant buzzing sort of noise. That's the real killer - it's intolerable. On 3 PCs and at least a dozen builds (even ones that supposedly run RE4 perfectly), I've never managed to make it go away, even though it's not a recognized issue like the music.